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Emerald Asset Advisors launches EAS Global Cycle Fund

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Emerald Asset Advisors, a separate account and mutual fund manager founded in 1998, has launched the EAS Global Cycle Fund.

The fund is derived from Emerald’s proprietary Global Cycle strategy which it created in October 2005 and has been operating as a separately managed account composite since that time.

The Global Cycle strategy is a multi-theme, multi-manager global equity portfolio with a tactical style that actively hedges and/or raises cash when necessary to reduce volatility and play defence during market downturns.

As an extension of this strategy as an open-end mutual fund, the EAS Global Cycle Fund seeks to capitalise on positive long-term growth trends around the globe, diversifying across multiple themes and market segments.

The fund may also invest a percentage of its portfolio in inverse ETFs, dedicated short mutual funds and/or cash as a hedge in perceived periods of high market risk.

"Through an ongoing research process, we aim to identify attractive cyclical or secular themes that we feel present great upside potential," says Robert Isbitts, Emerald’s chief investment officer and co-founder. "While these are generally long-term global growth ideas, it is rarely a smooth investment ride so the key for us is to actively adjust our exposure and rebalance our weightings along the way. Since we started this strategy nearly five years ago, we have balanced global thematic investing with judicious hedging, which in our view offers a great combination."

The Fund takes a flexible and opportunistic approach and generally holds between ten and 20 underlying mutual funds and/or ETFs which each represent a particular theme.

As a fund-of-funds manager, Emerald’s research team monitors the underlying funds and adjusts the portfolio mix based on macro-economic trends, changing market conditions and specific activity related to each underlying fund.

As of 30 June 2010, the portfolio themes in Emerald’s Global Cycle SMA Composite included environmental equities, China equity, India equity, frontier markets, gold and healthcare, with some cash and dedicated short equity positions. Other themes that have been pursued in the past include alternative energy, global infrastructure, potable water and global Reits.

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